At € 169 million Hydratec’s revenue was slightly higher than for the previous year (2016: € 162 million). Most of the increase was achieved by the Agri & Food companies. Gross margin improved to 52.9% (2016: 52.4%). Operating profit amounted to € 8.3 million, a slight increase compared to the figure for 2016, which included € 0.8 million one-time income. Due to lower financing and tax expenses net result attributable to shareholders rose from € 5.9 million to € 7.1 million in 2017. Group equity rose from € 48.4 million to € 53.4 million and solvency amounted to 38.6%. Earnings per share amounted to € 5.60.
Bart Aangenendt (CEO) regarding the past year:
“In 2017 all the Hydratec companies improved their result. In addition, substantial investment in product, manufacturing and market development during the year has prepared us well for future growth.”
Key figures 2017 vs. 2016
|( in millions of euro)|
|Operating profit before one-time income||8.3||7.4|
|Net result attributable to shareholders||7.1||5.9|
|Net earnings per share (in euro)||5.60||4.72|
|Dividend per share (in euro, 2017 proposal)||2.25||1.70|
2017 Annual Report
The 2017 Annual Report will be published on Thursday 5 April. The audit is currently still being completed.
During the Annual General Meeting on 30 May a dividend of € 2.25 per share will be proposed to the shareholders. This is in-line with the policy of paying-out at least 40% of the net result to shareholders (excluding one-time income) and equates to an increase of 32% compared to the previous year (€ 1.70).
The order intake is encouraging and the order book is well filled. As always, the demand for our products will be affected by macro-economic developments, such as volatile foreign currency exchange rates and Brexit. Partly for this reason we consider it still too early to express an opinion regarding the expected results for 2018.